control function

Definitions over time (1)

14/06/2021 – today applies on 12/11/2026 Article 1, Commission Delegated Regulation (EU) 2021/923 Scope: Whole act

For the purposes of this Regulation, the following definitions shall apply:

‘control function’ means a function that is independent from the business units it controls and that is responsible to provide an objective assessment of institution’s risks, review or report on those, including, but not limited to, the risk management function, the compliance function and the internal audit function;